Profit Drain #1 – Not Knowing Your REAL Costs

Are You Charging Enough to Cover Your Costs AND Make a Profit? The purpose of being in business is to make more money than it costs to provide your goods and service, right? And “what should I charge?” can be a loaded question. You’re making money, but is it enough?

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Afraid to raise your prices? Don’t be – and here’s why.

When we first start a business, the biggest question we often think is, “what should I charge?” We tend to start out where we’re comfortable and confident people will buy.  After a while we may find that we’re making sales easily.  That’s an indication to consider raising prices.  If you also find that you’re working…

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Tips To Keep Your Books Current & On-Point

According to a small business administration study, over 28% of businesses go bankrupt due to problems with the financial structure of the company, and in many cases this could have been avoided.[1] Understanding your accounting reports is essential in order to stay on top of business so you can manage your finances and make informed…

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8 Business Challenges To Overcome

Growing your dream company can have some challenges along the way. With the rate that companies go out of business and fail, here are 8 challenges to consider, along with advice on how you can avert disaster before it strikes. Starting for the Wrong Reason – According to Forbes, more than 500,000 business are started each month…

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Cash Flow Problems? Here Are Some Alternatives

When you’re suffering with cash flow problems and consider alternative finance for your business, there are a few options available. It mostly depends on what the money is needed for, the size, type and life stage of your company,  your (and your company’s) credit rating, and how much you need. Do you know which form…

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Business Budgeting 101

Just because you’ve opened a business, doesn’t mean you necessarily know everything you need to about how to run it, especially the financial aspects. No one teaches this!  Unless you have a finance degree, I bet no one ever taught you how to read a cash flow statement or create (and manage) a budget. Many…

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Cash Flow Challenge

We all know that in order to grow, you’ve got to spend money. The challenge is, where do you get it from? If you think you’re ready to grow, think again. The signs may have been positive lately: revenues are up, you’re selling more services, and work in coming in faster than you know what…

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